<p>Hi,
I have received: Federal Direct Subsidized Loan and Federal Perkins Loan
and I was just wondering from when is interest accounted for and included? and which are 'interested' in the first place?</p>
<p>Thank you...</p>
<p>the subsidized loan has no interest while you are at school. After you graduate, it increases at a fixed interest of 6.8% Its a great loan, sign up for it no matter what your financial situation is. The federal perkins is the loan with interest while you are at school. There is a 5% interest for the federal perkins loan. For more info:</p>
<p>University</a> of Michigan Office of Financial Aid: Overview of Programs</p>
<p>Um...no. The Federal Perkins Loan is the best kind of loan you can get. It is subsidized as well, and there are no fees associated with the borrowing process.</p>
<p>ah my bad, i was wrongly informed by a peer of mine... damn i only took the subsidized loan, shouldve taken the perkins loan... i guess i can call up the finaid office tomorrow.</p>
<p>"there are no fees associated with the borrowing process" that's while you're at UMich right? like as soon as you graduate they start putting interest on the amount?</p>
<p>Well, I was talking about origination fees. The subsidized stafford has a 2% origination fee, with a 1.5% refund after 12 payments. There is no origination fee for the Perkins.</p>
<p>For both loans:
After you get out of school, there is a window where there is still no interest, I'm not exactly sure what it is, but its easy to find online. After this time period ends interest will begin to accumulate. 6.8% on the stafford and 5% on the perkins.</p>